HULL

New Modern Residential Conversion

Hull

An exciting northern residential investment opportunity offering high yields

THE AREA

With excellent transport links, nightlife and shopping, the city is experiencing impressive economic growth and welcomes more and more young professionals looking to start their careers. Even more exciting is an exclusive partnership between the University of Hull and Team GB, an alliance that will provide Hull’s huge student population with a host of new opportunities and will make the university attractive to prospective students across the globe.

Population

Hull's population is at its highest in 20 years, at more than 260,000. This comes in line with Hull City Council's City Plan, which aims to create new jobs, build new houses, improve the public realm and improve educational attainment. Its fast-growing population include professionals, families, students, artists and entrepreneurs, and Hull City Council are well-prepared for this.

Economy 

With an economy worth £8bn, Hull is a city with real pulling power, ranked as one of the best locations for businesses in the UK. The city has recently received £250m of new investment in public spaces, while the University of Hull has been selected by Team GB to join forces with them in an exclusive partnership which covers a six-year period and includes the Tokyo 2020 and Paris 2024 Olympic Games.

Employment

Employment in Hull is now the highest on record. The city has attracted more than £3 billion of investment so far, creating more than 6,000 new jobs since 2013 in the renewable energy, healthcare, telecommunications and tourism sectors. The city's strongest industries include digital/creative and construction, while its renewables sector is having a remarkable effect on the local economy.

KEY FACTORS

  • Economy worth £8 billion
  • Huge amounts of inward investment
  • Partnership with Team GB putting the city on the map
  • Employment highest on record
  • Strongest in renewables, digital and construction industries

THE INVESTMENT

This modern residential development in Hull city-centre is made up of 58 elegant, energy-efficient apartments aimed at discerning professionals. 

Construction is progressing well, the developer expects to complete the build by the end of November 2019. Less than 20% of the original units are still available for sale. Prices start from £79,000.

Each of the 58 single bedroom apartments have been designed to appeal to the profitable professional market. The property brings modern and energy-efficient living to an area of massive inward investment. This development is a complete modernisation on the site of a former theatre, and is conveniently located in the city centre with key amenities within walking distance, including Princes Quay, Hull Paragon Interchange and local shopping centres.

PREMIUM NORTHERN RESIDENTIAL DEVELOPMENT

KEY INVESTMENT FACTORS


  • Off-plan available with developer discount
  • 8.5% rental returns
  • Excellent prospects for capital appreciation
  • 58 single bedroom apartments set on four storeys
  • Energy efficient and spacious designs
  • Ideally situated with key amenities just minutes away

FOR FURTHER DETAILS PLEASE SPEAK TO ONE OF OUR CONSULTANTS
TEL: +44 (0) 203 961 0090

ADDITIONAL DETAILS

Location Overview

Hull at a Glance

Location:
Yorkshire and Humber, England

Population:
258,700 (2016)
365,900 (working age)
42% under 35 (national average: 34%)

Population Growth:
Estimated 10% by 2021

Economy:
£8 billion

Growth Rate In/ GVA:
43% ahead of UK average (2016)

Businesses:
10,000 approx. (rising steadily)

Key Employment Sectors

  • Construction
  • Digital and media
  • Education
  • Finance and business services
  • Food and drink
  • Healthcare / medical
  • Manufacturing
  • Port and logistics
  • Renewable energy
  • Retail & leisure (including)
  • Tourism

Logistics – Major Employers

  • ARCO – safety equipment
  • ABP Associated British Ports
  • Aunt Bessies
  • Crown Paints
  • Ideal Standard
  • Reckitt Benkiser
  • Sewell Group
  • Siemens
  • Spencer Group
  • TJ Smith & Nephew

Commercial Development Sites

  • Burma Drive, Marfleet
  • Hedon Road
  • iPark
  • Priory Park
  • Wyke Works

Key Facts

Key Facts – The Development

  • A complete conversion in Hull city centre
  • Modern, energy efficient design
  • Now being converted by Empire Property Concepts
  • 58 single bedroom apartments to be created on four storeys
  • A high specification aimed at discerning tenants
  • Completion date Q3 2019

Key Facts – The Investment

  • Projected rental gross yields of 8.5%
  • Highly attractive pre-market prices
  • 250 year lease
  • Reserve with a payment of only 5%
  • Excellent capital appreciation potential
  • Massive demand for professional quality accommodation
  • Set in an area of fast-rising inward investment

Key Facts – Hull

  • Hull is a Northern Powerhouse city that’s on the rise
  • A flood of new investment is creating new jobs, particularly in fields demanding high skills
  • The city is a focal point for leading-edge healthcare research and hosts a wealth of well established food and drink manufacturers
  • Hull’s UK City of Culture status has brought the completion of acquisitions worth almost £10m in the city centre since latest 2016
  • The Port of Hull handles in excess 12 million tonnes of cargo and nearly one million passengers every year
  • More than £1 billion of investments are now underway

Development Overview

Originally built as an office and retail development on the site of a former theatre, this development occupies a very convenient city centre location. Set on Paragon Street, it is within easy walking distance of all local amenities, together with The Paragon transport interchange mainline station, the newly regenerated Princes Quay and Hull’s famous marina.

This strategic central position makes it ideally situated for workers drawn in by a range of major regeneration projects currently taking place nearby. Named the UK City of Culture for 2017, Kingston upon Hull is witnessing huge investment in its economy and infrastructure, as well as a spectacular transformation of its tourism sector. This, together with the growth in its burgeoning digital industries and the city’s status as the UK capital of renewable energy, is all helping to create new jobs and sustain steady growth in demand for new, high quality accommodation.

To help meet this demand, ES1 proposed a major conversion project that would see Hull City Council’s former offices converted into highly marketable one-bedroom apartments. Aimed squarely at discerning, higher-paying professionals, the units would target one of the fastest growing residential markets in the city.

 

Key Features

  • 58 single bedroom properties
  • Appealing to the profitable professional market
  • Designed for modern, energy-efficient living
  • Strong rental demand
  • A convenient central location
  • Set in an area of massive inward investment
  • Benefiting from ‘UK City of Culture’ status
  • Demand set to rise further in the coming years

DOWNLOAD INVESTMENT GUIDE

With a population at an all-time high, the city voted one of the best locations for business should be on your list when it comes to buy-to-let investment. Download our investment guide to find out more about what this coastal hotspot has to offer.

Join our Investment Hub for privileged access to our latest developments, their availability and exclusive rates.

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Solomon Investment Partners in relation to its investment products.